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Spire Healthcare Group PLC (SPI.L)

SPI.L on London Stock Exchange

159.90GBp
21 Sep 2018
Change (% chg)

4.40 (+2.83%)
Prev Close
155.50
Open
154.10
Day's High
163.50
Day's Low
150.60
Volume
3,499,706
Avg. Vol
2,214,106
52-wk High
307.00
52-wk Low
148.60

Latest Key Developments (Source: Significant Developments)

Spire Healthcare Forecasts Lower FY Adj. EBITDA From Last Year
Tuesday, 18 Sep 2018 02:01am EDT 

Sept 18 (Reuters) - Spire Healthcare Group PLC ::INTERIM RESULTS.HY REVENUE DECLINED BY 1.1% TO £475.6M.INTERIM DIVIDEND MAINTAINED AT 1.3P PER SHARE PAYABLE ON 11 DECEMBER 2018.HY EBITDA DECLINED 20.6% TO £66.1M (H1 2017: £83.2M).YEAR END NET DEBT WILL BE BROADLY IN LINE WITH 31 DECEMBER 2017 AND 30 JUNE 2018.HY UNDERLYING EBITDA DECREASED BY 21.1% TO £65.3M (H1 2017: £82.8M).FY EBITDA WILL BE IN RANGE OF £120 TO £125 MILLION, AFTER CHARGING NON-RECURRING ITEMS OF APPROXIMATELY £5 MILLION.UNPRECEDENTED DECLINE IN NHS ADMISSIONS HAS LED TO DISAPPOINTING H1 RESULTS AND REVISED OUTLOOK FOR FINANCIAL YEAR.WHILE PROLONGED DECLINE IN NHS VOLUMES HAD NEGATIVE MARGIN IMPLICATIONS, OVERALL H1 COSTS WERE IN LINE WITH BUDGET.MEDIUM TERM OUTLOOK FOR SPIRE REMAINS POSITIVE.HEADWINDS THAT CO IS FACING APPEAR TO BE TRANSLATING INTO SIGNIFICANT BUSINESS CHALLENGES FOR MANY SECTOR PARTICIPANTS."OVERALL DEMAND FOR HEALTHCARE IN THE UK CONTINUES TO RISE AHEAD OF THE ABILITY OF THE NHS TO SERVICE IT".BUSINESS CHALLENGES FOR MANY SECTOR PARTICIPANTS MAY LEAD TO OPPORTUNITIES FOR SPIRE..CONTINUE TO REVIEW NON-CLINICAL COSTS TO ENSURE OPTIMAL EFFICIENCY.IN 2018, EXPECTS MODERATE INCREASE IN PMI REVENUE OVER H2 2017.IN 2018, EXPECTS NHS REVENUE, EREFERRAL AND LOCAL CONTRACT WORK WILL BE SIGNIFICANTLY LOWER THAN H2 2017.  Full Article

Spire Names John Forrest As Chief Operating Officer
Tuesday, 18 Sep 2018 02:00am EDT 

Sept 18 (Reuters) - Spire Healthcare Group PLC ::APPOINTMENT OF NEW CHIEF OPERATING OFFICER.APPOINTED JOHN FORREST AS ITS NEW CHIEF OPERATING OFFICER.JOHN JOINS SPIRE FROM GREENE KING.  Full Article

Spire Healthcare Cuts FY Capex Forecast
Monday, 6 Aug 2018 02:00am EDT 

Aug 6 (Reuters) - Spire Healthcare Group PLC ::CONTINUE TO EXPECT PRIVATE PAYOR REVENUE GROWTH IN H2 2018.IN H1 2018, SELF-PAY REVENUES INCREASED 8.3%.CAPEX FOR FY 2018 WILL BE APPROXIMATELY £90 MILLION COMPARED TO £100 MILLION ORIGINAL GUIDANCE AND £118 MILLION IN FY 2017.IDENTIFIED AND INITIATED SUBSTANTIAL COST SAVING EXERCISES IN AREAS OF BUSINESS INCLUDING CENTRAL FUNCTIONS AND PROCUREMENT.SAVINGS ARE EXPECTED TO HAVE A SIGNIFICANT IMPACT ON COST BASE FROM 2019 ONWARDS, WITH SOME BENEFIT IN H2 2018.EXPECT TOP LINE TO RECOVER THROUGH SECOND HALF OF 2018 AND INCREASINGLY IN 2019 AND BEYOND.  Full Article

Spire Healthcare says CFO Simon Gordon leaves
Friday, 2 Mar 2018 02:19am EST 

March 2 (Reuters) - Spire Healthcare Group Plc ::‍AFTER 7 YEARS AS CHIEF FINANCIAL OFFICER (CFO) AT SPIRE, SIMON GORDON STEPPED DOWN AS AN EXECUTIVE DIRECTOR OF COMPANY ON 1 MARCH 2018​.‍HIS SUCCESSOR WILL BE ANNOUNCED IN DUE COURSE. SIMON WILL REMAIN WITH COMPANY UNTIL 31 MARCH 2018.​.SPIRE HEALTHCARE - ‍CHIEF FINANCIAL OFFICER AT SPIRE, SIMON GORDON STEPPED DOWN AS AN EXECUTIVE DIRECTOR OF COMPANY ON 1 MARCH 2018​.  Full Article

Spire Healthcare Says FY 2018 EBITDA Outcome Expected To Be In Line With FY 2017​
Friday, 2 Mar 2018 02:00am EST 

March 2 (Reuters) - Spire Healthcare Group Plc ::FY ‍REVENUE 931.7 MILLION STG VERSUS 926.4​ MILLION STG YEAR AGO.‍FULL YEAR 2018 EBITDA OUTCOME IS EXPECTED TO BE IN LINE WITH FY 2017​.FY ‍EBITDA 150.0 MILLION STG VERSUS 162.0​ MILLION STG YEAR AGO.‍FY ADJUSTED, BASIC EARNINGS PER SHARE, 14.4 PENCE VERSUS 19.2 PENCE YEAR AGO​.‍FINAL DIVIDEND OF 2.5 PENCE PER ORDINARY SHARE WILL BE PROPOSED AT CO'S ANNUAL GENERAL MEETING ON MAY 24, 2018​.‍NHS REVENUE FOR YEAR ENDED 31 DECEMBER 2017 2017 DECREASED BY £5.6 MILLION, OR 1.9%, TO £287.8 MILLION​.  Full Article

Spire Healthcare Sees FY 2017 Revenues In Range Of 929 Mln Stg To 932 Mln Stg
Tuesday, 16 Jan 2018 02:00am EST 

Jan 16 (Reuters) - Spire Healthcare Group Plc ::SEES 2017 FULL YEAR REVENUES IN RANGE OF £929 MILLION TO £932 MILLION.SEES 2017 FULL YEAR UNDERLYING EBITDA IN RANGE OF £149 MILLION TO £151 MILLION.NET DEBT AT 31 DECEMBER 2017 OF APPROXIMATELY £465 MILLION.  Full Article

Mediclinic confirms approach to Spire; says considering position
Monday, 23 Oct 2017 02:30am EDT 

Oct 23 (Reuters) - Mediclinic International Plc ::MEDICLINIC INTNL PLC - STATEMENT RE POSSIBLE OFFER.MEDICLINIC INTERNATIONAL PLC - ‍ANNOUNCEMENT REGARDING SPIRE HEALTHCARE GROUP PLC​.‍MEDICLINIC NOTES ANNOUNCEMENT MADE BY SPIRE HEALTHCARE GROUP PLC ("SPIRE") EARLIER TODAY​.MEDICLINIC - ‍CONFIRMS THAT IT MADE AN APPROACH TO SPIRE REGARDING A POSSIBLE OFFER FOR ENTIRE ISSUED AND TO BE ISSUED SHARE CAPITAL OF SPIRE​.‍PROPOSAL WAS REJECTED BY INDEPENDENT DIRECTORS OF SPIRE. AS A CONSEQUENCE, MEDICLINIC IS CONSIDERING ITS POSITION​.  Full Article

UK's Spire says rejects bid from Mediclinic Intl
Monday, 23 Oct 2017 02:00am EDT 

Oct 23 (Reuters) - Spire Healthcare Group Plc ::SPIRE HEALTHCARE GRP - RESPONSE TO PRESS SPECULATION.SPIRE HEALTHCARE - ‍RECEIVED PRELIMINARY AND CONDITIONAL PROPOSAL FROM MEDICLINIC INTERNATIONAL PLC.SPIRE HEALTHCARE - ‍RECEIVED PROPOSAL TO ACQUIRE ALL OF ISSUED AND TO BE ISSUED SHARES OF SPIRE WHICH MEDICLINIC DOES NOT ALREADY OWN​.‍PROPOSAL COMPRISED 150 PENCE IN CASH AND 0.232 NEW MEDICLINIC SHARES PER SPIRE SHARE​.‍PROPOSAL VALUED EACH SPIRE SHARE AT 298.6 PENCE PER SHARE​.BOARD ‍UNANIMOUSLY REJECTED OFFER ON BASIS THAT IT SIGNIFICANTLY UNDERVALUES SPIRE AND ITS PROSPECTS​.‍SHAREHOLDERS ARE STRONGLY ADVISED TO TAKE NO ACTION IN RELATION TO PROPOSAL​.‍THERE CAN BE NO CERTAINTY THAT AN OFFER WILL BE MADE OR AS TO TERMS ON WHICH ANY OFFER MIGHT BE MADE​.  Full Article

Spire Healthcare names Justin Ash as its new CEO
Wednesday, 27 Sep 2017 10:33am EDT 

Sept 27 (Reuters) - SPIRE HEALTHCARE GROUP PLC ::APPOINTMENT OF CEO.‍JUSTIN ASH AS ITS NEW CHIEF EXECUTIVE OFFICER.ASH WILL TAKE UP HIS DUTIES ON 30 OCTOBER 2017​.‍SIMON GORDON WILL CONTINUE AS INTERIM CEO UNTIL 30 OCTOBER, AFTER WHICH HE WILL REVERT TO CHIEF FINANCIAL OFFICER ROLE​.  Full Article

Spire Healthcare updates on Ian Paterson settlement agreement
Wednesday, 27 Sep 2017 04:58am EDT 

Sept 27 (Reuters) - Spire Healthcare Group Plc ::SPIRE HEALTHCARE - C‍ONFIRM COURT ORDER PUTTING AGREEMENT REGARDING SETTLEMENT OF CLAIMS AGAINST CO RELATING TO ACTIONS OF IAN PATERSON​ INTO EFFECT APPROVED.SPIRE HEALTHCARE - APPROVED ORDER BRINGS TO CONCLUSION ALL CURRENT AND KNOWN CLAIMS FROM PATIENTS AGAINST SPIRE HEALTHCARE AND CO-DEFENDANTS.APPROVED ORDER WILL RESULT IN ESTABLISHMENT OF IAN PATERSON COMPENSATION FUND.SPIRE HEALTHCARE - FUND WILL ALSO BE AVAILABLE TO COMPENSATE ANY FURTHER PATIENTS WHO NOTIFY A CLAIM PRIOR TO 30 OCTOBER 2018.  Full Article

Spire profit sinks on 'unprecedented' NHS cutbacks

Core earnings at UK private hospital operator Spire Healthcare Group sank 21 percent in the first half of 2018, driven by belt-tightening at the National Health Service that cut referrals to its big private providers.